CHASE NATIONAL BANK
SENATE INVESTIGATION. DEALINGS WITH CUBA. (United Press Assn.—Telegraph Copyright.) Washington, October 25. The investigation into the Chase National Bank before the Senate Committee was continued to-day. It was disclosed that, faced with financial difficulties in Cuba in 1930, the bank sold 40,000,000 dollars worth of bonds to the public to retire the island’s obligations to the Chase Bank. It was also revealed that the Chase Bank in retiring 50,000,000 dollars of Cuban certificates of which the bankers held 30,000,000, was paid off before the public, which held the remainder, although the former's holdings had later maturity dates. Mr Albert Wiggin, formerly chairman of the Chase National Bank, because of public criticism to-day voluntarily terminated a contract with the bank giving him 100,000 dollars per annum for life.
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Southland Times, Issue 22157, 27 October 1933, Page 7
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130CHASE NATIONAL BANK Southland Times, Issue 22157, 27 October 1933, Page 7
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